16 March, 2006 - 09:00 By Staff Reporter

Universal Salvage share price soars

Shares in automotive disposal expert, Universal Salvage, shot to 122.5 pence, up 7.93 per cent, after the Bedfordshire firm revealed it had won a major contract from Highway Insurance.Shares in automotive disposal expert, Universal Salvage, shot to 122.5 pence, up 7.93 per cent, after the Bedfordshire firm revealed it had won a major contract from Highway Insurance.

The 9p rise came after Universal announced its appointment as one of two salvage service providers to Highway following a tender process. The contract will see Universal handle around 5,000 vehicles per annum.

Trading since Christmas has exceeded expectations, with both salvage volumes and prices showing a better than expected performance.

As a result the directors have anticipated that the group will report a result that will be close to a pre-exceptional breakeven position before tax for the year ended April 29, 2006.

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